"Our country offers a wide range of opportunities, which could lead to the establishment of joint ventures" with the Emirates, said Yemeni Oil Minister Mohammad al-Wajih.

Mazruwi said the objective was "to create investment opportunities for both the government and the private sector of the UAE in Yemen and create value-added joint ventures."

The UOG oversees economic growth under an offset programme that requires foreign arms suppliers to pump investments back into the UAE.

Yemen plans to sign prospecting accords with foreign oil companies aimed at doubling production to one million barrels per day within five years and boosting reserves, Wajih said in a newspaper interview published on Tuesday.